About this opportunity
tastytrade lists this Banking & Transfer Specialist opportunity in chicago, Illinois. Review the employer’s description below for duties, qualifications and application requirements.
Job description
Banking & Transfer SpecialistChicago, ILCompany: tastytrade Role: Banking & Transfer Specialist Location: Chicago, IL – Hybrid (minimum 3 days/week in office) Reports to: Senior Manager, Banking Operations Licensure Required: FINRA Series 7 (or SIE and Series 7 Top-Off) and Series 63 Hours: 7 AM - 4 PM or 8 AM - 5 PMAs a Banking and Transfer Specialist with tastytrade, you will be a critical hands-on processor within our fast-paced Banking team. The ability to place trades relies on the timing of account funding, making this a crucial function to the operation of the firm. Your primary role is to act as a liaison between the client and clearing firm, moving assets internally as well as from other firms. You will help with processing ACATs, wires, checks, internal transfers, and ACH disbursements, while remaining the team's go-to resource for IRA-related distribution matters. This role represents the natural progression from Banking Support Specialist, taking on direct transaction-processing authority and serving as a mentor to newer team members while building the operational expertise needed for future advancement.What You'll Do Transaction ProcessingProcess all account transfers (ACATs) in a timely manner, including full and partial transfers from other brokerage firmsManually review and process wires (domestic and international), checks, internal transfers, and ACH disbursementsRemain savvy with IRA-related matters and process IRA distributions including early withdrawals, RMDs, and qualified distributionsScan checks into the internal system on a daily basis, ensuring accurate record-keeping and timely depositProcess 401(k) rollovers and IRA transfers including direct rollovers, indirect rollovers, and 60-day rollover mattersReview and resolve ACAT rejections or documentation issues in coordination with contra firmsEscalation Handling & Complex Transaction SupportServe as the escalation point for Banking Support Specialists on funding and transfer matters requiring hands-on processing judgmentResolve complex transaction issues including rejected ACH transactions, bank verification failures, and micro-deposit confirmationsHandle escalated wire transfer inquiries including international wires, wire recalls, and wire instruction discrepanciesCoordinate with contra firms on ACAT issues, documentation problems, and account discrepanciesCustomer & Frontline Team SupportProvide friendly, accurate, and efficient support via chat, email, and phone regarding any money movement-related mattersServe as a specialized resource for Trade Desk and Concierge teams on complex funding, transfer, and distribution questionsProvide clear guidance to customers navigating ACAT timelines, fees, and transfer limitationsCompliance & Regulatory AdherenceComply with industry Anti-Money Laundering (AML) regulations and assist the fraud team with monitoring and documentationIdentify and escalate suspicious funding activity, documentation irregularities, or potential fraud indicatorsMaintain thorough documentation of transaction processing decisions for audit and regulatory purposesClearing Firm CollaborationCollaborate with the clearing firm on a daily basis regarding transaction processing, settlement, and discrepancy resolutionCoordinate with clearing firm operations teams on ACAT processing, wire confirmations, and transaction failuresMentorship & Team SupportMentor and train Banking Support Specialists on transaction processing, documentation standards, and regulatory requirementsShare best practices and technical knowledge with the broader Banking teamSupport onboarding of new Banking Support Specialists on funding types, transfer processes, and system toolsProcess Improvement & DevelopmentProvide input and recommendations for improvement regarding current banking policies, procedures, and technologiesIdentify processing bottlenecks and propose solutions to improve transaction turnaround times and accuracyParticipate in testing new banking tools, workflows, or system enhancementsCareer DevelopmentDemonstrate consistent accuracy and sound judgment across complex transaction processing scenariosBuild leadership skills through mentoring Banking Support Specialists and supporting their developmentShadow the Head of Banking on workflow management, escalation handling, and cross-team coordinationDemonstrate readiness for advancement through sustained accuracy, mentorship impact, and cross-functional collaborationWho You Are Experience & CredentialsFINRA Series 7 (or SIE and Series 7 Top-Off) and Series 63 CertifiedCurrently or previously held a Banking Support Specialist role, or equivalent experience in banking operationsMinimum 1-3 years of experience in banking operations, brokerage operations, or a similar licensed roleBachelor's degree or related work experienceDemonstrated track record of accuracy and sound judgment in transaction processing decisionsTechnical & Regulatory ExpertiseStrong understanding of ACAT transfer processes, wire processing, check handling, and ACH disbursementsSolid knowledge of IRA distribution rules, rollovers, 60-day rollover requirements, etc.Basic understanding of trade settlements, options positions, and different security typesFamiliarity with AML regulations and their application to funding and transfer operationsFamiliarity with fraud detection patterns related to funding transactions and account transfersJudgment & Decision-MakingDemonstrated ability to make sound decisions on complex transaction processing mattersStrong critical thinking abilities with a systematic approach to reviewing documentation and resolving discrepanciesSound judgment on when to process independently versus escalate to the Head of Banking or ComplianceMentorship & Communication SkillsExperience mentoring or training team members, with demonstrated success developing others' skills and confidenceStrong interpersonal skills, effective in customer interactions, and ability to identify appropriate solutionsAbility to collaborate with all departments within the companyClear, professional communication across all levels for internal collaboration and customer interactionsOperational SkillsSkilled at processing high volumes of ACATs, wires, checks, and ACH disbursements accuratelyComfortable managing time-sensitive cutoffs for wire submissions, check deposits, and ACH batch processingAble to prioritize competing transaction types (e.g., an urgent outgoing wire vs. a routine ACAT) based on funding deadlines and trade impactStrong reconciliation skills for catching discrepancies between requested amounts, account balances, and clearing firm confirmationsAbility to manage a queue of pending IRA distribution requests, rollovers, and time-sensitive tax-related deadlines (e.g., RMDs, 60-day rollover windows)Detail-oriented mindset with a willingness to learn and uphold applicable regulatory requirementsWillingness to collaborate with teammates to address time-sensitive issuesStrong organizational skills and ability to manage competing priorities across multiple transaction typesCompany Perks + Benefits:Performance BonusesStock Purchase OptionsMedical/Vision/Dental Benefits401k Plan20 Paid Vacation Days (plus an additional paid vacation day the month of your birthday!)10 Paid Sick DaysGym Membership ReimbursementCommuter BenefitsPet InsuranceWellness & Mental Health ProgramsCharitable Donation MatchingTwo Paid Volunteer Days OffDaily catered lunch when in the officeFull kitchen with snacks and beveragesIn-building gymShuttle to/from MetraDiscretionary Performance Bonus: 5-10% of base salary based on individual and company performance.Salary Range: $60,000-$80,000About IG North America + tastyIG North America is home to tastytrade, tasty live, and tastyfx—a family
Worksite address
chicago, IL, 60601, US
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.